Buying and Selling a Home For Canadians For Dummies, 5th Edition

Chapter 14

Setting a Price and Knowing the Cost

IN THIS CHAPTER

Figuring out how much to ask for your home

Investigating the costs associated with selling

Looking at the taxes involved in selling your home

You may be thinking, “Great! I’m selling my house, there’s a big cheque coming in, and I’m gonna be swimming in cash!” Although it’s true that there will be a big cheque at some point, you ought to keep in mind some costs tied to selling your house. The idea is to provide for these costs in advance, because most of them must be paid before that cheque gets cashed. Careful and informed planning can help ensure that the process of selling your house goes smoothly.

Whatever the reasons for selling your house, the process requires careful planning and advice from your real estate agent. Remove your emotions from the process in order to understand the dynamics of the market. You need to bear in mind the costs associated with selling a house and plan for these too. This chapter spells out what you need to remember when pricing your home.

Pricing Your House to Sell

Retailers know that if you price a product too high, people won’t buy it. The public perception is that the product’s value ...